COEUR D'ALENE, Idaho, Oct. 3, 2012 /PRNewswire/ -- Star Gold Corp. ("Star Gold" or the "Company") (OTC Markets: SRGZ) announced today the assay results for all four (4) of the core results drilled at Main during the 2012 Phase 1 drilling program at its Longstreet property. Also released are one (1) RC hole at Main and one (1) RC hole at North Target. Longstreet is located in Nye County, Nevada and lies 25 miles southeast of the Round Mountain mine.

Core Results at Main

All four core holes had at least 100 feet of greater than +0.01oz/ton gold while two core holes had over 200 ft of greater than +0.01 oz/gold. Core hole LS-1224 displayed the greatest value of gold over a five foot interval ever drilled by Star Gold at Main with a value of 0.62oz/t. This is a value of over 24 times the average grade at Main.

At the conclusion of Phase 1 of drilling for 2012, the weighted average grade drilled at Main excluding intervals under 0.005 oz/t threshold was 0.026 oz/t or 0.93g/t.

Star Gold is a gold exploration/development company formed in 2006 for the purpose of evaluating, acquiring and developing Gold projects in United States with a focus on Nevada. Star Gold is currently focused on exploration and development of its Longstreet Property, The project is located 48 kilometers southeast of the Round Mountain Mine in Tonopah, Nevada. The Longstreet Property is a Round Mountain style volcanic-hosted gold deposit.

CAUTIONARY STATEMENT REGARDING MINERAL RESOURCES

This Press Release and/or other information that may be released by the Company in the future uses the terms "resources", "measured resources", "indicated resources" and "inferred resources". United States investors are advised that, while such terms are recognized and required by Canadian securities laws, the SEC does not recognize them. Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Mineral resources that are not mineral reserves do not have demonstrated economic viability. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Inferred resources are in addition to measured and indicated resources. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher category. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in this Press Release and in press releases by the Company in the future, have been or will be prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. The requirements of NI 43-101 are not the same as those of the SEC.

The terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves , adopted by the CIM Council, as amended. These definitions differ from the definitions in the United States Securities and Exchange Commission ("SEC") Industry Guide 7 under the United States Securities Act of 1933, as amended (the "Securities Act"). Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.

In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that all or any part of a mineral deposit in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC Industry Guide 7 standards as in place tonnage and grade without reference to unit measures.

Subject to the forgoing Cautionary Statement, the following are the definitions of the terms used in the Longstreet NI 43-101 Report:

NI 43-101 Definitions:

Indicated mineral resource

The term "indicated mineral resource" refers to that

part of a mineral resource for which quantity, grade or

quality, densities, shape and physical characteristics

can be established with a level of confidence

sufficient to allow the appropriate application of

technical and economic parameters, to support mine

planning and evaluation of the economic viability of

the deposit. The estimate is based on detailed and

reliable exploration and testing information gathered

through appropriate techniques from locations such as

outcrops, trenches, pits, workings and drill holes that

are spaced closely enough for geological and grade

continuity to be reasonably assumed.

Inferred mineral resource

The term "inferred mineral resource" refers to that

part of a mineral resource for which quantity and

grade or quality can be estimated on the basis of

geological evidence and limited sampling and

reasonably assumed, but not verified, geological and

grade continuity. The estimate is based on limited

information and sampling gathered through

appropriate techniques from locations such as

outcrops, trenches, pits, workings and drill holes.

Measured mineral resource

The term "measured mineral resource" refers to that

part of a mineral resource for which quantity, grade or

quality, densities, shape and physical characteristics

are so well established that they can be estimated with

confidence sufficient to allow the appropriate

application of technical and economic parameters to

support production planning and evaluation of the

economic viability of the deposit. The estimate is

based on detailed and reliable exploration, sampling

and testing information gathered through appropriate

techniques from locations such as outcrops, trenches

pits, workings and drill holes that are spaced closely

enough to confirm both geological and grade

continuity.

Disclaimers

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Star Gold Corp (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."